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A durable power of attorney involves a principal and an agent, with the principal selecting the agent to handle financial matters on their behalf. It is typically written and a spouse is commonly chosen as an agent, though any trusted person can be chosen. Attorneys suggest selecting a beneficiary in your will as an agent. The principal can have multiple agents making decisions together or nominate an alternative agent. The key difference between durable and general power of attorney is that general power of attorney expires when incapacitated, while durable power of attorney remains effective until the principal dies or acts.
